Skip to main content

Asian Infrastructure Investment Bank, China's Balancing Act and Russia

Image
By:


The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with headquarters in Beijing, China. It is a development bank with a mission to improve the economic and social outcomes in Asia. It has 103 approved members as of now.
Promoting sustainable economic development, creating wealth and augmenting infrastructure connectivity in Asia, fostering regional partnership & cooperation to address developmental challenges, Enhancing investment in private & public capital for development purposes,  using the resources at its disposal for funding development in the region are some of its major objectives.

The China-led Asian Infrastructure Investment Bank has decided to freeze projects with Russia and Belarus in wake of Ukraine-Russia war.

The bank has suspended its project with Russia related to the rail sector worth $300 million while freezing its two activities with Belarus.

Russia is the third-biggest stakeholder of the AIIB after China and India, holding 6 percent of the voting power in the bank's management.

China strives to portray the AIIB as an international institution, but sceptics see it as Beijing’s attempt to exert influence by funding its Belt and Road Initiative projects, and set up a counterbalance to the World Bank and International Monetary Fund.
Beijing is buying time to devise strategy as Russia is hit by West-led sanctions storm over war with Ukraine.

It will interesting to see how Russia responds to China's balancing act.

Follow us on Twitter : THE DHARMA CHRONICLE
Follow author on Twitter : Shraddha

Labels:

Comments

Post a Comment

Popular posts from this blog

Mazar-i-Sharif Inscription: An unexplored chapter of Hindu history of Afghanistan

By:
In the 20th century, an inscription was recovered from city of Mazar-i-Sharif of northern Afghanistan. This inscription unearthed an unknown chapter of the Hindu history of Afghanistan. The inscription has been written in Sharada script, its writing style is Sarasa and language is Sanskrit. This inscription was deciphered by a Pakistani archaeologist Ahmad Hasan Dani in 2001. The ‘Mazar-i-Sharif’ inscription dates back to 10th century. The inscription alludes to the rule of Hindu Shahi king Veka. The inscription mentions the installation of a idol of Shiva Bhattaraka and Uma. Mazar-i-Sharif Inscription According to the Quad-i-Azam University professor, Ahmad Hasan Dani, the idol was “built by Parimaha Maitya for his own and his son Maitasya’s benefit.” The inscription comprising eleven lines had several spelling mistakes. “As the stone is slightly broken at the top left corner, the first letter `OM’ is missing”, Dani said . "The inscription gives the name of the ru...
Post a Comment
Read more

#BoycottLaalSinghChaddha: जब आमिर खान ने खुलकर जताई थी नरेंद्र मोदी के प्रति नफ़रत

By:
11 अगस्त को आमिर खान की फिल्म 'लाल सिंह चड्ढा' रिलीज होने वाली है और आमिर के पुराने बयानों के कारण उनकी लिए अब एक नई मुसीबत खड़ी हो गई है। लोगों ने इस फिल्म का बहिष्कार करना शुरू कर दिया है, जिससे आमिर, फिल्म की एक्ट्रेस करीना और इंडस्ट्री के कुछ कलाकार भी परेशान हो गए हैं। हालांकि, फिल्म हिट होगी या फ्लॉप, ये तो वक्त बताएगा। लेकिन क्या आप जानते हैं कि आमिर खान प्रधानमंत्री नरेन्द्र मोदी के बड़े आलोचक रहे हैं ‌यहां तक कि उन्होंने गुजरात दंगों के लिए भी मोदी को ही जिम्मेदार ठहराया था। 2014 में नरेंद्र मोदी के पीएम बनने के बाद भले व्यक्तिगत तौर पर उनके लिए आमिर के सुर बदल गए हों और उन्होंने 'स्वच्छ भारत अभियान' के साथ साथ मोदी सरकार की कुछ नीतियों की तारीफ करते हुए खुला पत्र लिखा हो। लेकिन इसके पहले आमिर ने बहुत बार नरेंद्र मोदी की तीखी आलोचना की है। सिर्फ इतना ही नहीं, 2005 में उन्होंने अमेरिका द्वारा तत्कालीन गुजरात सीएम पर वीजा पाबंदी के फैसले पर मोदी के समर्थन में तत्कालीन प्रधानमंत्री मनमोहन सिंह के बयान की निंदा और अमेरिकी सरकार के फैसले क...
1 comment
Read more

#IndiaAt75: Veer Savarkar's Role In The History Of the Indian National Flag

By:
In the year 1906, in response to the British Government's infamous Bengal Partition Plan, leaders of the time considered creating an Indian flag. He needed to rekindle national consciousness and the spirit of organisation in every Indian citizen through the flag. However, even before this, many different types of flags were popular in India, the most prominent of which was the saffron-coloured flag.  However, keeping in mind the immediate circumstances, Indian leaders considered a new type of flag to unite all religions, sects, and sects, which would become a symbol of resistance to British colonialism. The partition of Bengal was part of a plan to completely divide India communally. For appeasement, the British government decided to create a separate Muslim majority province, but Surendranath Banerjee writes in his book 'A Nation in Making Bengal' that there was a lack of unity in Bengal at the time. As a result, a flag was desi...
Post a Comment
Read more